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With the influx of both domestic and international investment, there has been an unprecedented housing boom in Chinese cities. Between 2000 and 2010, according to the Economist Intelligence Unit, China constructed roughly twice the total number of houses in the UK, or about the same amount of houses that are in JapanAs a result, housing conditions in Chinese cities has improved significantly. Residential floor space per capita in cities increased from 43 square foot in 1980 to 340 square foot in 2010, although this is still much smaller than in the US (700 square foot per person). Three-quarters of households in cities/towns (85% of all households nationwide) were homeowners in 2010, compared to about 20% in the 1980s. Even though some apartments are owned with partial property rights due to subsidies, the rate of homeownership in China is much higher than in many developed countries. For example, the comparable figure in the US is just 65%.
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